Severn Development Company, LLC

01/12/2023

In an extremely tight housing market, there remain compelling opportunities to bring more affordable housing units to market.

12/17/2019

Wood is being used in new ways to build larger projects.

"Mass timber” construction is gaining ground, although not all environmentalists agree on its potential for slowing climate change.

07/02/2019

Food for thought.

A look at the 20 most commonly used property names across the U.S. highlights how some just aren’t enough to distinguish your property.

04/30/2019

Today SDC submitted a 9% LIHTC funding application for a project in Delaware.

04/06/2019

This Baltimore deconstruction program leads the nation in materials reuse and increasing employment.

As part of Baltimore’s effort to combat urban decay, it is paying a nonprofit that deconstructs buildings in some neighborhoods and then salvages and ships old bricks and lumber across the U.S. and to the Caribbean.

06/30/2018

We are heartbroken as another mass shooting occurred in America. To simply say those words is to admit how familiar these terrifying tragedies have become. Yet, they always seem to take place somewhere else.

This week, that somewhere else was our backyard, in Annapolis, Maryland, the land of pleasant living.

As longtime residents of and business people in this capital community on the Chesapeake, we’re as shaken as we are perplexed.

We may never know the full story of what motivates such a senseless act. However, this we do know: we live here; we work here; we send our kids to school here; and we get our news here. Tomorrow will be another day, and Annapolis will emerge from this tragic loss closer and stronger.

In the meantime, our thoughts and prayers are with the people of Capital Gazette Communications and their families, as well as the authorities who responded so quickly and so decisively.

03/07/2018

The delinquency rate for securitized loans in the commercial real-estate industry has dropped for eight consecutive months, defying expectations in recent years of a wave of defaults.

09/13/2017

Renovation Starts at Jefferson Apartments Phase II in Lewes, Delaware.

Severn Development Company recently broke ground for construction to begin on the comprehensive renovation of Jefferson Apartments phase II in Lewes, Delaware. Jefferson Apartments is an affordable multifamily housing complex for low income families located on Kings Highway in Lewes, Sussex County, Delaware.

The project construction team includes Architectural Alliance, Inc. as architect, Gillis Gilkerson as general contractor, and KM Construction Consulting, LLC as owner’s construction manager. The project funding includes a mortgage by USDA Rural Development, Low Income Housing Tax Credits from Delaware State Housing Authority, equity from The Richman Group Affordable Housing Corporation, and construction loan from TD Bank.

The comprehensive renovation scope includes the replacement of all building systems; major energy efficiency upgrades; new windows, doors, kitchens, baths and all surfaces. Jefferson II will have a unit mix of 16 one-bedroom units and 16 two-bedroom units. Project completion is scheduled for the Summer of 2018.

08/04/2017

https://www.energysage.com/cse-multifamily/

As an apartment building owner, there are many reasons to consider going solar. Reduced operating costs; utility savings for tenants; return on investment; "eco-curb" appeal and increased property value. Learn more

07/27/2017

Some creative municipal ideas for affordable housing.

Artist homes, green buildings, and other ways cities and nonprofits are opening doors to attainable homes

07/26/2017

The Low Income Housing Tax Credit increases the availability of safe and affordable housing in communities across the country.